Construction Loan Period definition

Construction Loan Period means the period beginning on the Effective Date and ending on , which may be extended for two, three-month periods by written request and Lender’s approval as long as the Loan is in good standing.
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Construction Loan Period means the period commencing as of the date of this Agreement and ending on the initial Expiration Date, which for purposes of clarification excludes the Mini Perm Loan Period and Mini Perm Loan Extension Period, if applicable.
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Construction Loan Period means sixteen (16) months after the Closing (or, at Borrower’s written election, may mature earlier if the Conversion Conditions have been achieved).
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Examples of Construction Loan Period in a sentence

  • Project Cost Savings will be determined at the end of the Construction Loan Period and will have the meaning and be applied as provided in Section 4 of the Note.

  • A change order that materially affects the Project is a change order that (i) with respect to a single change order, results in an increase or decrease in the cost of constructing the Project of more than $50,000, or (ii) with respect to all changes orders in the aggregate accepted within the Construction Loan Period, result in an increase or decrease in the cost of constructing the Project of more than $150,000, or (iii) that extends the schedule of the Project.

  • During the Construction Loan Period, interest will accrue on the Loan as provided in the Note.

  • Without prejudice to Xxxxxx’s rights and remedies upon an Event of Default or if the conditions precedent to conversion of the Loan to a Permanent Loan are not satisfied, no principal or interest will be payable until the last day of the Construction Loan Period, at which time all principal and accrued interest will be due and payable in full.

  • In its sole discretion, Lender may (but is not obligated to) make further disbursements after expiration of the Construction Loan Period (for example, to pay construction liens or otherwise for the protection of its collateral for the Loan), and all such disbursements will be deemed advances and added to the balance of the Loan.

  • Upon expiration of the Construction Loan Period, the Construction Loan will, subject to satisfaction of the conditions precedent set forth in Section 4.1, be converted to a permanent loan.

  • Lender will have no further obligation to advance any funds to Borrower after expiration of the Construction Loan Period, regardless of whether the Project construction has been completed.

  • Xxxxxxxx fails to diligently pursue the Project during the Construction Loan Period, including the lease-up.

  • The term of the Permanent Loan (the “Permanent Loan Period”) will commence on the first day after expiration of the Construction Loan Period and will terminate on the Maturity Date as set forth in the Note, at which time all principal and accrued interest will be due and payable in full.

  • Commencing on the Effective Date and ending on the expiration of the Construction Loan Period, Xxxxxx agrees, on the terms and conditions of this Agreement and upon satisfaction of all conditions precedent, to disburse funds from time to time up to a total aggregate principal amount equal to the Loan Amount.


More Definitions of Construction Loan Period

Construction Loan Period means the period commencing from the date of this Note until , 20 , which period shall include three months for cost certification. [based on the construction contract schedule plus 3 months]
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Construction Loan Period means the period from the date of this Note to, but not including the Conversion Date, during which the Bank is advancing sums to Borrower pursuant to the Loan Agreement.
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Construction Loan Period. The term of the Loan commencing on the date hereof and ending on the Conversion Date.
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Construction Loan Period. The period commencing on the date of this agreement and ending on the earlier of (i) December 31, 1999, or (ii) the date on which a permanent Certificate of Occupancy is issued for the Improvements.
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Construction Loan Period means that period of time commencing on the date of the Mortgage Loan Notes and ending on the earlier of completion of construction or one (I) year from the date of the Mortgage Loan Notes, during which the Administrative Agent and the Lenders may advance funds to the Mortgage Loan Borrower pursuant to this Agreement (including the Construction Loan Addendum) and the other Credit Documents.
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Related to Construction Loan Period

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.

  • Loan Period means with respect to any LIBOR Rate Loan, the period commencing on such LIBOR Rate Loan’s Funding Date or the date of the Conversion of any Base Rate Loan into such LIBOR Rate Loan and ending 1, 2, 3 or 6 months thereafter as selected by the Company pursuant to Section 2.2(a); provided, however, that:

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Loan Proceeds means all amounts advanced as part of the Loan, whether advanced directly to Borrower or otherwise.

  • Construction Phase means that Phase of the Project which shall commence after the Authority provides the Trade Contractor with written Notice to Proceed with the Construction Phase.

  • Drawdown Period means the period commencing on the Execution Date and ending on the earlier of (i) 30 April 2012 and (ii) any date on which the Commitment is finally cancelled or fully drawn under the terms of this Agreement;

  • Construction Period means the period commencing from the Appointed Date and ending on the date of the Completion Certificate;

  • Project Preparation Advance is modified to read “Preparation Advance” and its definition is modified to read as follows:

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Initial Advance means the first Advance made pursuant to Article II.

  • First draw sample means a one−liter sample of tap water that has been standing in plumbing pipes at least 6 hours and is collected without flushing the tap.

  • Loan Amount has the meaning specified in Section 7.06(b) of the Indenture.